Today,you Are Retiring

question 58

Multiple Choice

Today,you are retiring.You have a total of $413,926 in your retirement savings and have the funds invested at 4.2 percent,compounded monthly.You want to withdraw $2,500 at the beginning of every month,starting today.You also want the withdrawals to stop when your account balance declines to $100,000.For how many years can you make withdrawals?

• A)17.07 years
• B)16.96 years
• C)15.22 years
• D)18.24 years
• E)13.81 years

---

Definitions:

Health Belief

An individual's perception and attitude towards health and illness, influencing their health behaviors and decisions.

Scheduled Appointment

A prearranged meeting or time set with a professional, such as a doctor or dentist, to receive services or consultation.

Theory of Planned Behavior

A theory that predicts an individual's intention to engage in a behavior at a specific time and place, considering attitudes, subjective norms, and perceived behavioral control.

Intention Regarding Behavior

A person's commitment or decision to perform a specific behavior or action.